06
Sep
08:56
Steel futures edge up on pre-holiday restocking
On Tuesday, Chinese rebar and hot rolled coil futures edged up thanks to expectations for inventory replenishment before the Mid-Autumn Festival long weekend on Saturday-Monday, though spot transactions have not seen obvious growth, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed just CNY 2/t higher than Monday at CNY 3,693/tonne ($532/t), while the same contract for HRC gained CNY 27/t on-day to…
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Anonymous
Very good overview of the weekly steel market.
Anonymous